Bankruptcy filings in the U.S. are now taking place at a rate of 6,000 per day , and are on pace to reach 1.5 million this year. ( USA Today )
The former chair of the Federal Reserve, Alan Greenspan, said Thursday that the government has lost credibility on economic matter s and is largely to blame for allowing the nation’s biggest banks to become “too big to fail.” ( Huffington Post )
New York has begun renting vacant luxury apartments to house the city’s growing homeless population. “Granite countertops. Terraces. Marble bathrooms. Walk-in closets.” ( New York Daily News )
The U.S. job market isn’t deteriorating as much as earlier this year , but companies continue to cut workers at a rapid clip. ( Wall Street Journal )
Former New York Governor Eliot Spitzer warns that the optimistic “green shoots” people are seeing in economic data may well turn out to be dandilions ( Slate )
For a certain class of worker - young, creative, lacking local roots, perhaps more inclined to self-absorption than not - the recession has been a boon. It’s a generation that, through loss of work, claims to be finding itself. ( SF Weekly )
Some divorce lawyers are noticing a drop-off in business as couples seem to be staying together to ride out the recession. ( Philadelphia Inquirer )
Will the recession cause a permanent shift in Americans’ spending habits? Probably not, say experts. ( Forbes )
The USDA reports that 33.2 million people - one in nine Americans - are currently receiving food stamps. ( Reuters )
Sure, your company’s profits are way down and your colleagues are being fired. That doesn’t mean you shouldn’t be thinking about how to get a raise. ( US News & World Report )
